Financial Planners Standards Council (FPSC) has released a planner profile that provides a glimpse of the emerging financial planning profession.
Based on responses to questions asked of renewing and new CFP licensees, the planner profile, viewable on the FPSC Web site, offers a historical perspective on basic information such as age, gender and location, as well as insights to the practice profiles of CFP licensees.
“Each year, we ask CFP licensees more questions, and the information we have gathered during this last licence renewal, when compared with that of former years, begins to reveal patterns and trends,” said FPSC vice president of communications & corporate relations Ann Bowman in a release.
Some of the trends tracked so far:
- More women are earning the designation, a 2.64% increase in the past two years;
- More CFP licensees hold educational degrees, up 27.2% in three years;
- In the past two years, there was a 2.7% decrease in planners between the ages of 25 and 49 while the number of planners 50 and over increased by 2.35%.
The profile also offers insights into the practices of planners including:
- 35% of planners have more than 300 clients;
- 74% of clients have a net worth of less than $500,000; and
- 35% of planners earn in excess of $100,000 annually.
More statistics on CFP licensees and information gathered from other FPSC surveys are available on www.cfp-ca.org.